New-vehicle sales inch up 0.5% in 2023, exports at record levels
New-vehicle sales in the domestic market inched up by 0.5% in 2023 compared with 2022, says Naamsa | The Automotive Business Council.
This follows a 13.9% jump in 2022 and 22.2% growth in 2021.
The 2023 sales number of 532 098 units still sits below 2019’s prepandemic level of 536 612 units.
Naamsa says the 2023 new-vehicle market was undermined by a depressed economy, elevated cost-of-living increases, loadshedding and power outages, as well as “major logistical challenges” at the country’s ports, especially towards year-end.
When looking at the various segments, new-passenger-vehicle sales dropped by 4.4% in 2023, to 347 695 units.
Sales of bakkies, vans and minibuses, however, surged ahead by 11.6%, to 151 499 units.
Sales of medium commercial vehicles declined by 0.6%, to 8 258 units, compared with last year.
Sales in the heavy truck and bus segment jumped by 12.8%, to 24 646 units.
Naamsa says sales in this sector were heavily supported by goods transport increasingly moving to roads owing to growing inefficiency in South Africa’s rail system.
New-vehicle exports from the country last year reached a record 396 290 units, showing a gain of 12.7% over 2022 numbers.
This exceeded the previous record of 387 092 units set in 2019.
Two of out of three vehicles produced in South Africa are now exported.
Looking ahead, Naamsa believes that the expectation of 1% growth in the domestic economy in 2024 could see a 5% improvement in local new-vehicle sales in the year ahead.
Vehicle export momentum is anticipated to remain upward for the year ahead, despite numerous global challenges, such as the Gaza conflict, adds the council.
Comments
Research Reports
Latest Multimedia
Latest News
Showroom
For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...
VISIT SHOWROOM
Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
